India imposes import controls on certain gold, silver, and platinum products.

According to an announcement released by the Indian government on Thursday night, the country has imposed import restrictions on certain gold, silver, and platinum products. Several items under Chapter 71 have been moved from the "free import" category to the "restricted import" category. Restricted products include silver articles, goldsmiths' and silversmiths' wares, and metal-covered items. The import of platinum has been changed from "restricted" to "free", but platinum alloys with a gold content of over 1% still fall under restricted imports. Goods sold in Economic Zones or by export-oriented enterprises outside the domestic tariff area may be exempted. The new regulations come into immediate effect, and previously signed contracts, opened letters of credit, and goods in transit are not eligible for exemptions.